Corporate Governance
Policy and regulations

NFRA turns five: India’s youngest regulator gets financial autonomy but jurisdiction debate looms

NFRA turns five: India’s youngest regulator gets financial autonomy but jurisdiction debate looms
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Ajay Bhushan Pandey, chief, NFRA

Synopsis

NFRA has now become a completely independent regulator after recently attaining financial autonomy. The regulator was constituted in 2018 after auditors had come under the scanner for alleged lapses in various corporate scams during 2017 and 2018. In five years, NFRA faced many challenges including some resistance from ICAI over jurisdiction. ET Prime spoke to NFRA’s chairman Ajay Bhushan Pandey.

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8 mins read, Last Updated:
India's youngest regulator for finance and accounting matters, the National Financial Reporting Authority or NFRA has attained financial autonomy. In a recent development, NFRA, which was formed in 2018, has now got the status of a grantee body. This is a significant transition from once seeking funds through the ministry of corporate affairs (MCA) to now achieving financial autonomy. This ensures that NFRA becomes a completely independent

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